Question

5. What is supply function? Explain
various determinants ot supply of
commodity​

Answer 1

Answer:

Law of supply states that when the price of a commodity increases its supply also increases. Similarly, when the price of a commodity decreases its supply also decreases. Hence, there is a direct relationship between price and supply of a commodity.

Answer 2

Answer:

Law of supply states that when the price of a commodity increases its supply also increases. Similarly, when the price of a commodity decreases its supply also decreases. Hence, there is a direct relationship between price and supply of a commodity.

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